CertiK has secured Top Network’s smart contract prior to a successful Token Listing
CertiK has recently conducted a security audit of Top Network token (TOP), which was then successfully launched on Huobi Pro via the Prime program (as the first project).
On March 26, 2019, Top Network completed a successful listing via Huobi Prime to the platform of the veteran cryptocurrency exchange Huobi Global. The fundraising event went through three rounds in total with each round concluding in less than a few seconds. CertiK, as Top Network’s security partner and the official auditor of $TOP token, is delighted to congratulate the Top Network team for passing our rigorous Formal Verification process with a remarkable score.
The Top Network token contract is based on standard ERC-20 with lean implementations and enough precondition checks to prevent those corner cases. Other than the common interfaces, the $TOP token has a few extra switches or functions that belong to the token issuer/owner:
- A new status (active/inactive) is introduced and controlled by the owner, whereas by inactivating the token all the transactions will not be executed. This could potentially add a layer of protection or prevention from malicious actions
- There is a kill function which could be invoked by owner, and the contract will get self destructed without any chance to rollback or revert. CertiK has informed the client the potential impact for such a powerful function, and has left it to the team to make the final decision on this double edged sword.
Given this was Top Network’s first debut on a digital exchange, CertiK assigned a group of 3 security experts to run audits independently utilizing CertiK’s proprietary Formal Verification procedure and then combine results for further confirmation.
Here are some of the highlights:
- No vulnerabilities were found in the system during the auto scan or after smart-labeling the source code. This means the source code has been mathematically proven to be secure, indicating that the source code is of high quality with respect to security.
- Some functionalities triggered warnings from the engine in the form of overpowering ownership, and CertiK team brought those items to Top Network team for consideration given they are an intended function.
CertiK leverages the latest and most advanced Formal Verification technology to deliver the most comprehensive and rigorous security audits in the blockchain space. Rather than merely checking for bugs and vulnerabilities, Formal Verification leverages rigorous mathematical theorems to check whether the source code of a program meets its specification, computing all possible scenarios and providing proof that it is impossible for the checked vulnerabilities to exist.
Top Network leveraged CertiK’s audit reports and technical insights to enhance the overall design and security of their systems. The full audit report provided by CertiK can be accessed here.
About the Project
Top Network is a high performance blockchain with a powerful array of service-level infrastructures, including the world’s first decentralized cloud communication services. TOP aims to build a business-friendly blockchain platform that handles real-world business of any type, size or volume on the blockchain.
Top Network is equipped with a Multi-Chain Platform, which meets the complexity of real-world business where financial settlement and business logic are always segregated. Top Network books and settles high volume of transactions with its high-performance blockchain and unique three-layer distributed ledgers, which enables seamless combination of mainchain, service chains and off-chain ledger to store, process, book and settle any size and volume of real-world business.
Some of the core features of Top Network include Two-Layer Sharding, High-Speed Parallel, Zero Fees & Instant Transactions, Build-in Security Privacy Protection. Top Network will be launching three DApps with 60,000,000 users in total on TOP.
CertiK is a blockchain and smart contract verification platform founded by top Formal Verification experts from Yale and Columbia University and former senior software engineers from Google and Facebook. Different from the traditional testing approaches, CertiK attempts to mathematically prove blockchain ecosystem and smart contracts are hacker-resistant and bug-free. CertiK’s key features include a layer-based decomposition approach, pluggable proof engine, machine-checkable proof objects, certified dApp libraries, and smart labeling.
Trusted by the security industry, CertiK has reached strategic partnerships with the world’s top Exchanges such as Binance, OKEx, and Huobi, as well as Public Chains such as NEO, ICON, and QuarkChain. CertiK is incubated and invested by Binance Labs, along with other world’s leading investors such as DHVC, FBG Capital, Bitmain, and Lightspeed.